16 events as I understand them would indeed be a lot.
Whether it is worth playing the current build will always depend mostly on what specifically you want. With my "most favorite girls" I don't like to be left hanging in the midst of something, so if they're being worked on and have some stuff (as often happens) "going back", I'll sit the updates out until the story is (to me) "full" again.
Reincarnation mode is: once you finish a game with a happy ending (wedding), you can start a new game with stuff carrying over (stats, abilities, money), so you'll have less of a grind.